**Corn Futures Update: Market Movements and Export Data**
Corn futures closed on January 13 with contracts rising by 4 to 5 cents for the front months, but March contracts still reflected a loss of 21 cents or 4.71% for the week. The national average cash corn price increased by 6 cents to $3.89 1/2. The markets will be closed on January 16 for Martin Luther King Jr. Day and will reopen that evening.
Data from the CFTC indicates that managed money added 65,348 contracts to their net short position in corn futures and options, totaling 81,774 contracts, marking the largest short interest since October. The USDA reported private export sales of 298,000 metric tons, including 120,000 metric tons designated for Japan, bringing weekly total flash sales to 1.83 million metric tons. As of January 8, corn commitments stood at 52.035 million metric tons, a 29% increase year-over-year.
